Cryptocurrency prices held steady on Wednesday as investors cheered the latest deal between Iran and Israel. They also jumped as hopes that the Federal Reserve would start cutting interest rates jumped. This article provides a forecast for some popular cryptocurrencies like Maple Finance (SYRUP), Centrifuge (CFG), and Sei (SEI).
Maple Finance (SYRUP) price prediction
SYRUP price chart | Source: TradingView
Maple Finance, a top player in decentralized finance (DeFi) and real-world asset tokenization, has done well this year as its total value locked (TVL) has jumped to over $2.47 billion.
This growth happened as investors rushed to its top products, including the syrupUSDC stablecoin, which has a yield of over 6%. syrupUSDC stablecoin now has a market capitalization of over $886 million, and trades at a premium, with each coin trading at $1.11.
The daily chart shows that the Maple Finance price has bounced back in the past few months, soaring from a low of $0.089 in April to $0.60 today. It has jumped above the upper side of the ascending channel that connects the higher highs and higher lows since May 25.
SYRUP price has jumped above the important resistance level at $0.5537, the highest swing on June 17. Moving above that level was notable as it invalidated the forming double-top pattern. A double-top is one of the most bearish signs in technical analysis.
The Relative Strength Index (RSI) and the MACD indicators have all pointed upwards. Therefore, the most likely scenario is where the Maple Finance price will continue rising this year, with the next level to watch being at $1.
Centrifuge price forecast
Centrifuge is another top player in the RWA industry, where it offers a platform for tokenized financial products. According to its website, its total assets financed have jumped to over $1.149 billion, while its tokenized assets are 1,696.
Centrifuge has over $409 million in total value locked (TVL), with the Janus Henderson Anemoy Treasury Fund being its biggest one.
The daily chart shows that the Centrifuge token price has remained in a tight range in the past few weeks. It has remained inside the key support and resistance levels at $0.1025 and $0.2735.
Centrifuge token is consolidating at the 50-day moving average as investors wait for the next catalyst. This consolidation is happening in a low-volume environment. This could be a sign that the CFG token has moved into the accumulation phase of the Wyckoff Theory.
Centrifuge’s Relative Strength Index (RSI) has moved above the neutral point at 50. Therefore, the token will likely remain inside the narrow channel, and then stage a strong bullish breakout as it moves to the markup phase of the Wyckoff Theory.
Sei price technical analysis
Sei token has bounced back in the past few days as market participants cheered the growth of its gaming market share. DappRadar data shows that its active unique wallets (UAW) in the gaming industry jumped to over 8.1 million in the last 30 days.
Sei has become the biggest player in the gaming sector, overtaking top players in the industry like Immutable, Ronin, and WAX. More data shows that Sei’s stablecoin and DeFi growth has accelerated this year.
Sei token dropped and bottomed at $0.1560 this month and then bounced back to $0.3361 on Wednesday. It moved above the descending channel, which was part of the bullish flag pattern.
Sei price has moved above the 50-day Exponential Moving Average (EMA), while the Relative Strength Index (RSI). Therefore, the token will likely continue rising as bulls target the 50% retracement level at $0.4316.
Read more: Sei price prediction: here’s why it has surged despite crypto crash
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